Things That Matter

We Ranked The 11 Best Latin American Countries To Start A Business

Entrepreneurship is on the rise throughout the world. Changing economic landscapes everywhere and people wanting a more flexible lifestyle make this an attractive option. Are you among the many who have your eye toward starting your own business? You may have thought about opening one in the United States or in a large, well-known manufacturing country like Singapore. But, have you ever considered that Latin America might have exactly what you need to start your business? If you haven’t, you’re missing out. We took the guesswork out for you by ranking the 11 best Latin American countries to start a business.  Some of these may surprise you.

11. Guatemala

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Guatemala offers simplicity at its finest. Have you started a business in the United States or at least learned a bit about how businesses are run in the U.S.? If so, it won’t be much of a stretch to start a business in Guatemala.  Don’t like red tape? Lucky for you, there is an established legal framework in Guatemala.

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Rules are clearly defined and give benefits similar to those you would find in the U.S. with a Limited Liability Company (LLC). In Guatemala, they’re called Sociedades Anonimas (SAs). They are not only popular for defining your business and picking and using its name but also for getting your hands on property in Guatemala.

10. Dominican Republic

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Growth, growth, growth! The Dominican Republic has so much to offer, starting with its increasing economic stability due to its attractiveness to foreign investors. It ranks in the world’s top five for Free Zones. You might be thinking, “What makes the Dominican Republic a Free Zone and why should I care?” Well, a free zone has significantly fewer taxes and even offers a variety of exemptions for new businesses.

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Some might even call the Dominican Republic a “tax haven.” In the Dominican Republic, production and labor costs are low, there is easy access to transport and shipping and, as mentioned above, there are significant tax benefits.

9. El Salvador

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Low starting costs, easy currency and another bastion of free zones. What more could you want? In El Salvador, you only need about $100 USD, two shareholders, and a director to incorporate and set up shop.

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Like in the Dominican Republic, you can capitalize on El Salvador’s Free Zones. Who doesn’t want lower taxes?

8. Argentina

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Argentina has had quite the turnaround over the last few years. This is like your favorite underdog story. While Argentina had a major economic and political crisis in the early 2000s, changes to its country’s leadership and its trade processes have made it a great place to start a business. While not as cheap as starting a business in El Salvador, your pocketbook won’t feel too light in Argentina.

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You can start your business with around $300 USD That very small amount lets you reap great rewards. Just some of the rewards you get for your investment are a highly skilled labor force at low costs, minimal taxes due to the country’s free zones and a highly collaborative entrepreneurial spirit.

7. Brazil

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Brazil is an up-and-comer. It is already the sixth largest economy in the world and poised to become the fifth in the next couple of decades. Access to rich mineral resources including self-sufficiency in oil makes it a boon for investors. Innovation is the name of the game, along with smart partnerships. Brazil has partnered with the United States on five core themes: innovation and green technology, trade facilitation, business development, standards, and metrology, as well as intellectual property cooperation.

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Money talks and, here, like several other countries on this list, you pay less money in taxes and get great rewards. The country is also considered a low risk for investments. With fewer natural disasters, a low cost of living and s a well-diversified economy while boosting a stable democracy makes Brazil something extra special.

6. Colombia

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Tourism is where it’s at in Colombia. Colombia ranked No. 2 in places to visit in the New York Times article “52 Places to go in 2018,” along with attention in several other pieces on hot spot destinations. There are many opportunities to bask in the success of the tourism industry with your own business.

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You might consider investing as a tour operator or in running a luxury spa. It also benefits from strong ties to the United States.

5. Peru

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While most of the attention goes to Chile, Costa Rica, and Mexico when it comes to starting a business, Peru won’t be left behind. It has one of the world’s fastest-growing economies and very low inflation.

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Commodity pricing is growing and going strong, especially in the mining industry. You won’t want to be left behind either, so consider Peru for your next business investment.

4. Mexico

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Who doesn’t love a short wait time? In Mexico, it only takes about eight days to get your business up and running. It also ranks among the top 30 percent of the world’s countries for regulatory performance. Making a bunch of legislative reforms means that there is an ever-increasing number of businesses, but also an ever-increasing opportunity to start one.

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Mexicans have a relatively easy time getting credit which means more opportunity for them to spend money with you.

3. Uruguay

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Small, but mighty, Uruguay is often overlooked when it comes to starting a business, primarily due to its size. That is a big mistake, though. Extreme poverty is very low, it has the largest middle-class of any Latin American country (about 60 percent).

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The infrastructure and education also make it a highly sought after place for investment.  The three major industries are agriculture, service, and industry.

2. Costa Rica

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Costa Rica is the land of “La Pura Vida.” Costa Rica is a pioneer in eco-tourism and is the only tropical country in the world to succeed in reversing deforestation. The country has no military. Invest in people and infrastructure instead of weapons? Seems like a good idea.

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If Costa Rica’s economic success on the world’s stage is any indication, it sure is. Access to universal healthcare and a stable region means there is an ever-growing retirement community flocking there as well. What an opportunity!

1. Chile

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Progressive Trade Deals and a low tax rate are certainly enticing. Moreover, Chile is ranked highly for the ease of doing business, But, it wasn’t always that way. There were some challenges that are being addressed. Moving to an online system (isn’t everybody?) means less red tape and a quicker turnaround. Who wants to have to bring all their records in a sealed envelope and wait in line? The country has also stood up for business, including small business.

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They have enacted reforms for stricter contract enforcement. Chile has worked hard to get to its number one spot. It’s enacted many reforms over the years with an eye toward an improved business climate. Chile’s lofty goals are creating jobs, becoming a more competitive economy and stimulating domestic investment.

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Here Are 9 Salsas From Across Latin America That You’ll Carry In Your Bag Every Day Of The Week

Culture

Here Are 9 Salsas From Across Latin America That You’ll Carry In Your Bag Every Day Of The Week

I guarantee that since Beyonce’s hit anthem ‘Formation’ hit the airwaves, we’ve all been wanting to channel our inner Bey and carry some hot sauce in our bags. But which one would you choose?  

Whether you prefer sweet and sour, ranch, spicy, or mild, when it comes to options, the possibilities are endless!

A sauce’s beauty is that every country has its famous creation that usually accompanies their traditional dishes. Every Latin American country has its mouth-watering sauce that was created using recipes passed down from ancestors.

AJILIMOJILI

In Puerto Rico, this sauce is quite popular because of its ají dulce flavor – a mix of sweet and sour notes. The green salsa is the Caribbean’s version of hot sauce and is added to recipes, such as seafood and boiled vegetables.

VALENTINA

Few of us don’t know about the magic that is Valentina. Pour that sauce all over your papas, pizza, jicama, elotes, and so much more. And it’s great because it’s available in a variety of heat levels so everyone can enjoy. 

TIÁ LUPITA HABANERO SAUCE

This Habanero Hot Sauce is an original family recipe of the brand and combines just the right amount of heat with each fruit’s natural sweetness. It is handmade in small batches, using only habanero peppers, dates, mangos, and spices. All ingredients are sourced from local farms and are non-GMO and gluten-free certified.

The sauce can be used as a condiment with breakfast burritos, eggs, sandwiches, tacos, pulled pork, steak, chicken, fish, quesadillas, and more.

CHIMICHURRI

Chimichurri is mostly tied to Argentina, even though other countries also serve the herb-based salsa. To achieve the perfect chimichurri, mix parsley, oregano, garlic, onion, pepper, vinegar, and olive oil. Pair with meat cuts like churrasco and watch the magic happen.

CHIRMOL

In Central America, chismol or chirmol is made of tomatoes, onion, peppers and other ingredients. It’s similar to pico de gallo and is used in a variety of dishes.

RICANTE

Sauce, dressing, dip, marinade… Ricante does it all and with no sugar or salt added and with just the right amount of approachable spice. Ricante is not only Non-GMO, Gluten-Free, and Keto Friendly, but tiá approved!

Ricante launched with five incredibly unique hot sauces, marrying non-traditional essences like apples, mangos, carrots, and habaneros.

SALSA ROSA

Pastas are enjoyed all across Latin America, especially in Argentina and Uruguay, which pair the dishes with salsa rosa, a tomato-based sauce mixed with heavy cream. Together, they create a pink paste that blankets a variety of pasta dishes.

TACTICAL TACOS

Wait, so not all taco bases are citrus?! Tactical Tacos knows how to do taco sauce right with their notes of orange, lime, and cilantro to start your bite out just right, followed up with a perfect hint of Jalapeno and Cayenne pepper in the background. That’s just their mild sauce, Snafu. The Fire Fight and Ghost Protocol give you a similar ride with the citrus kick but with a much bigger spice hit for those that are brave enough to try it out!

MOLE

Mole is a spicy-and-sweet sauce made from chocolate that translates. The dark brown sauce gets its heat from chiles, but also has a touch of sweetness from the cacao, almonds, and peanuts often added. The sauce is topped with sesame seeds.

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All The Truly Surprising Starbucks Menu Items From Around Latin America

Culture

All The Truly Surprising Starbucks Menu Items From Around Latin America

There are some things you can count on at any American Starbucks location, like the uniform flavor of Pike Place Roast, a sub-par bagel, or the baristas’ inability to spell Jennypher correctly. Outside of the U.S., however, the chain must make some menu adjustments based on local tastes.

Although the term “unusual” is certainly relative, here’s a glimpse of Starbucks’ best international offerings.

Maracuya Frappuccino – Mexico

Transport yourself to the Riviera Maya with this one. The people of Mexico can taste the exotic fruity flavor of passionfruit (aka maracuya) in their frappuccinos and save themselves from an actual trip to the beach.

Ponche Navideño – Mexico

Starbucks México on Twitter: "Recárgate de buenos deseos con una bebida de  temporada (pst, nosotros te invitamos la segunda 😁). Del 20 al 24 de  noviembre de 3 a 5 p. m.… https://t.co/hB3ziwEuDp"

Although most of us think as ponche as being just a seasonal option, several Starbucks locations in Mexico carry the traditional tasty treat all year long.

Banana Split Frappuccino – Mexico

You can take this one with or without coffee. It has all the banana and chocolate flavor of the beloved dessert and is topped with crushed waffle cones.

Envuelto Poblano – Mexico

Starbucks México | Envuelto poblano, el sabor de México en Starbucks -  YouTube

Lucuma Crème Frappuccino – Peru

Too bad they don’t serve it in the United States but I can understand why. This frappuccino is made with Lucuma, which is a tropical fruit from Peru, so it would be problematic to export it to different parts of the world. On the other hand, it makes the drink exclusive and adds one more reason to go to Peruvian Starbucks.

The taste of the fruit can be compared to maple flavor or butterscotch and this frappuccino itself is creamy and sweet as a Peruvian treat should be.

Barrita Nuez – Chile

Meet the famous humble cookie with a Chilean spin. You can taste the Barrita Nuez in Chile and enjoy the stuffing which consists of dulce de leche, nougat and walnuts.

Brigadeiro Frappuccino – Brazil

This frappuccino was born to honor the love of dulce de leche flavored ice creams which all Brazilians share. Dulce de leche is a traditional Latin American dessert that is prepared by slowly heating sweetened milk until it changes its color and gets a flavor similar to caramel.

Mini Donuts Nutella – Brazil

18 International Starbucks Items You'll Want To Travel For

Mini fried donuts filled with Nutella. Why are there no Nutella-filled treats at an American Starbucks?!

Pão de Queijo – Brazil

Brazil is often associated with skewers of meat, but there’s certainly a lot more cuisine variation. The fluffy balls of gluten-free cheese bread known as pão de queijo is a good example. The use of sour cassava starch dates back to the 1600s, before cheese was even in the picture, but today they’re available everywhere you turn in Brazil, from beachside stands to grandmothers’ kitchens to the Starbucks pastry case.

Dulce de Leche Frappuccino – Argentina

This creamy Frappuccino flavored with dulce de leche is pretty much what dreams are made of.

Cafe Tinto – Colombia

Starbucks coffee couldn’t be further than the working-class style of Colombian coffee called tinto, but as part of an effort to blend into its surroundings, the chain sells short cups of the stuff. It’s served black, and has a slightly thicker consistency than your average joe.

Churro Frappuccino – Latin America

Churro Frappuccino served at Starbucks all over Latin America includes cinnamon sprinkling, whipped cream, white mocha syrup, and a churro. 

What’s your favorite Starbucks items from across Latin America?

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